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BP business ruled in violation at Kovytka

Published Jun 1, 2007

Russian road

Russian license regulator Rosnedr has ruled a BP-owned company violated agreed terms at the giant Siberian gas field Kovytka, having pumped just 38.8 million annual cubic metres of gas and not the bargained for 9 bcm.

New BP chief Tony Howard flew to Moscow for the verdict, the Moscow Times reported.

Kovytka is operated by Rusia Petroleum, which is in-turn owned by 50-50 joint venture TNK-BP. Russian oil interests Alfa Access Renova own the other half of TNK-BP.

Thomson-Financial reported the Resnedr news Friday amid speculation Russia would hold off revoking the license until after a world economic summit in Germany.

BP told OilGas24.com affliliate, Scandinavian Oil-Gas Magazine, that it was bottled up at Kovytka with no local demand and no pipeline prospects.

ws@oilgas24.com

 

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